6-1608. Lien priority and validity
The full amount secured by a reverse mortgage security interest has the same
priority over any other lien on the property as if the full amount had been disbursed on
the date of the loan closing regardless of the actual date of any disbursement. The
amount secured by the security interest shall include all direct payments by the borrower
to the creditor or the creditor's assignee and all other loan advances permitted by the
mortgage for any purpose including loan advances for interest, taxes and special
assessments, premiums for hazard or mortgage insurance, servicing charges and costs of
collection, regardless of when the payments or loan advances are made. The priority
provided by this section applies notwithstanding any other law.
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